Ballast Point Brewing Company Sells For $1 Billion

Constellation Brands Inc. (Corona, Modelo etc) has just revealed it will be adding San Diego based ‘Ballast Point Brewing Co.’ to its beer division in a rumored $1 Billion deal expected to be finalised after Christmas (that’s billion with a B, not an M).

Based in New York, Constellation is the third largest beer company in the U.S. behind AB Inbev and SABMiller, and counts imported brands like Corona Extra, Modelo Especial and Pacifico amongst its roster.

Ballast Point is best known for its Sculpin IPA alongside 39 other excellent products in their portfolio, the brewery is one-of if not THE fastest-growing craft beer companies in the U.S. Initial reports suggest the brewery will continue to operate as a stand-alone company with its existing management team and employees running day-to-day operations.

According to the press release, Jack White, founder of Ballast Point Brewing & Spirits, said…

“The team at Constellation shares our values, entrepreneurial spirit and passion for beer, and has a proven track record of helping successful premium brands reach the next level of growth and scale.”

For info on either brand head to CBRANDS.COM or BALLASTPOINT.COM. For a behind the scenes look at Ballast Point, you can check out the video below where the WESTCOASTER Youtube channel takes a visit to the brewery

[VIA. EATER]